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Juliette [100K]
2 years ago
4

Rick’s Cafe is a new restaurant in town. It has Rick, (the owner), five waitstaff, two cooks, a busboy, and a hostess. He is con

sidering hiring a manager for the restaurant and asks for your thoughts. What advice would you give him?Multiple ChoiceThe cafe is small enough in size that it can be maintained as a flat organization without a middle manager.The cafe is large enough in size that it needs a middle manager.A manager would enable him to divide the labor but may also cause him to lose some authority.Although the cafe is small, a middle manager would allow Rick to mingle more with the customers.A manager would allow Rick to take time off for a vacation.
Business
1 answer:
Lyrx [107]2 years ago
4 0

Answer: The cafe is small enough in size that it can be maintained as a flat organization without a middle manager.

Explanation:

One needs to put into consideration that the said restaurant is new which means, they have low customer retention as of now, funds is not really flowing as the restaurant is still trying to gain grounds in the area, the business is basically just getting to the ears of some people. I would suggest Rick monitors the restaurant's activities himself for now and gain practical understanding and technical approach on how to effectively manage the business.

When he has established certain standards, increase customer base, extensive orders rising, etc., then he can find a suitable manager to help run the affairs as there would be money to pay that said manager while gross profits keep rising.

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Vivian conducted market research on her company’s products. She found that after the company raised the price of its product by
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One important factor that Vivian needs to consider is that demand changes as a result of changes in price, however, other factors could affect the demand for goods or services, examples are, changes in the price of related goods, the income of the people, changes in preference etc.

Therefore, based on this fact, Vivian should consider "Price elasticity of demand." Price elasticity of demand can be defined as a measurement used in economics to show the responsiveness or elasticity of the quantity demanded of a good or service to a change in its price when nothing but the price changes.

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2 years ago
Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.
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Answer:

Nexium & Associates Journal entries

March 1

Dr Accounts Receivable800

Cr Service Revenue 800

March 9

Dr Office Furniture1,060

Cr Office Supplies 160

Cr Accounts Payable1,220

March 15

Dr Accounts Payable1,220

Cr Cash1,220

March 23

Dr Electricity Expense430

Cr Accounts Payable430

March 31

Dr Salaries Expense850

Cr Cash850

Explanation:

The details given about Nexium & Associates are straight forward and required no further

adjustment.

8 0
2 years ago
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The GoT cups are a fast seller and you need to ensure that you have enough rolls of paper to fulfill demand. The first stage in
jarptica [38.1K]

Answer:

EOQ = 414 rolls

Explanation:

In order to calculate the number of orders to minimize the cost, we should calculate that by using the Economic order quantity model.

DATA

Holding cost = $1.75/unit

Annual demand = 500 rolls x 12 = 6000 rolls

Ordering cost = $25

Formula

EOQ =\sqrt{\frac{2Cod}{Ch} }

Where

Co = ordering cost

D = Annual demand

Ch = Holding cost

Solution

EOQ = \sqrt{\frac{2(6000)(25)}{1.75} }

EOQ = \sqrt{\frac{300000}{1.75} }

EOQ = 414 rolls

They should order 414 rolls to minimize the cost.

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2 years ago
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9. The major problem addressed by the warehouse layout strategy is: A) minimizing difficulties caused by material flow varying w
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Answer:

C) Addressing trade-offs between space and material handling.

Explanation:

Addressing trade offs between material handling and space in the warehouse is a major problem been tackled in warehouse layout strategy.

In any case where it is been found that your warehouse or distribution centre capacity is at bursting point, and costs are escalating while service levels are not being met, it is natural to assume that a bigger warehouse would go a long way to addressing the issues.

That is why experts in this field that have extensive experience in assisting customers in the identification of causal issues through its(warehouse) facility design, operations audits and also layout.

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2 years ago
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On January 1, 2021, Taco King leased retail space from Fogelman Properties. The 10-year finance lease requires quarterly variabl
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Answer:

<u>Jan 1st, 2021 entry:</u>

Equipment    746,168 debit

    Lease Liability    723,668 credit

    Cash                     22,500 credit

<u>April 1st, 2021 entry:</u>

Interest expense    7,537 debit

Lease Liability       15,263 debit

         Cash              22,800 credit

Explanation:

We will assume a 750,000 sales revenue per quarter. As this was their historical and expected value:

750,000 x 3% = 22,500 per quarter

Now, we solve for the present value of the lease payment:

C \times \frac{1-(1+r)^{-time} }{rate}(1+r) = PV\\

C 22,500

time 40 (10 years x 4 quarter per year)

rate 0.01 (4% annual / 4 quarters)

22500 \times \frac{1-(1+0.01)^{-40} }{0.01}(1+0.01) = PV\\

PV $746,168.2419

we subtract the first payment of 22,500

lease liability reocrded in the enrty: 723.668

As lease sales were 760,000

lease payment: 760,000 x 3% = 22,800

less expected of 22,500 = 300 additional interest expense

interest expense: 723,668 x 0.01 = 7,237 + 300 = 7,537

amortization on lease liability: 22,800 -7,537 = 15,263

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2 years ago
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